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This week’s featured collector is MatrixDesign3r

MatrixDesign3r is an occasional artist, kindness crusader and NFT collector. Their collection features many different Ethereum NFTs, including a few MatrixDesign3r created. Check it out at lazy.com/matrixdesign3r

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The financialization of NFTs continues… but is it good for the community?

In an early January newsletter, we wrote about the increasing financialization of NFTs and the rise of “NFT Finance.” This week another step in that direction has been taken with the launch of Blend, a peer-to-peer lending platform developed by Blur and Paradigm. Although the technology behind the platform is undeniably interesting, not everyone is a fan. Let’s dig into the situation and learn more.

Blend is a newly launched lending platform that allows users to borrow money using their NFTs as collateral. The p2p system connects borrowers with lenders offering the most competitive interest rates. One of the main advantages of Blend is that loans don’t have fixed end dates, providing more financial flexibility for users. It also doesn’t rely on external data sources, known as oracles, to determine interest rates or collateral value, making it more decentralized and permissionless.

The mechanism behind Blend involves fixed-rate loans, refinancing auctions, and liquidation. Refinancing auctions allow lenders to exit. However, if no one is willing to take over the loan, the borrower’s NFT is sold to cover the debt. Blend’s system features continuous loans that automatically extend unless the lender wants to end the loan, allowing borrowers to repay their loans whenever they want. (For a full technical analysis of Blend, click here.)

Some might argue Blend is bad for NFTs because it could encourage speculation and over-leveraging, which might lead to an unstable market. By allowing people to borrow money using their NFTs as collateral, some users might take on excessive debt, hoping to profit from NFT price increases. If the value of the NFTs were to suddenly decline, it could lead to a wave of liquidations and further price drops, potentially destabilizing the market. Additionally, critics may argue that using NFTs as collateral for loans might detract from their original purpose as unique pieces of art or collectibles, and turn them into mere financial instruments.

On the other hand, others might argue Blend is good for NFTs as it can provide liquidity and broaden the use cases for NFT owners. By allowing NFT holders to access funds without selling their assets, Blend could encourage more people to invest in NFTs, knowing that they can unlock the value of their assets if needed. This can lead to increased demand and a more vibrant NFT market. Furthermore, the Blend platform can bring more attention to the NFT space and demonstrate the versatility of NFTs as not just collectibles, but also as a means of accessing financial services. This expanded utility could potentially drive innovation and increase the overall value of the NFT ecosystem.

As the NFT market continues to grow and evolve, Blend represents another provocative development in the merging of decentralized finance with NFTs. It’s clear that opinions on its impact can vary, with some seeing it as a potential risk to the art market’s stability, while others view it as a positive step towards broadening the utility and appeal of NFTs. We encourage you to join the conversation and share your thoughts on continuing financialization of NFTs.

What do you think about NFT Finance? Fill out this poll and let us know!

Help Us Make Lazy.com Unbelievably Awesome: Share Your Insights!

We’re on a mission to make our platform even more fabulous, and we need YOUR brilliant insights to help us get there. So, we’ve put together a quick questionnaire that’s all about your suggestions for Lazy.com. By taking a few moments to participate, not only will you be making your voice heard, but you’ll also be shaping the future of NFT showcasing for everyone. Picture a Lazy.com that’s tailored to your desires—now let’s make it happen together! Can’t wait to hear what you have to say!

Share Your Insights

Click here to give your feedback on Lazy.com and request new features

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This week’s featured collector is NarbDad

NarbDad is the former Mayor of Narbeth, Pennsylvania. He is also a collector of Ethereum, Polygon and Solana NFTs. NarbDad is clearly a fan of generative AI remixes of famous NFTs. Browse their interesting gallery at lazy.com/narbdad

Want your collection to be featured in the next newsletter?
Tweet a link to your Lazy profile and we’ll take a look!

Site Improvements on Lazy.com

Dear Lazy.com users,

We’ve been quietly tinkering away in the background, making a few adjustments to our platform. While we may be called Lazy.com, we’re anything but lazy when it comes to improving your user experience. Here are the recent site fixes we’ve implemented:

1. Solana NFTs Now Playing Nice

We’ve addressed the issue with Solana NFTs not displaying correctly. Solana NFTs will now appear as they should, allowing you to present your collection without any hiccups.

2. Spam NFTs on Ethereum Get the Boot

We all know that one party crasher who just won’t take a hint. To save you the trouble of dealing with unwanted spam NFTs lurking in your Ethereum-based collections, we’ve put a bouncer at the door. These pesky airdropped spam NFTs will now be automatically hidden, leaving you with a curated guest list of the NFTs you actually invited. We’ll continue to refine our system to ensure all spam NFTs are removed.

3. Tezos NFTs Step into the Profile Picture Limelight

For those of you collecting Tezos NFTs, we have a fix: you can now use your Tezos NFTs as profile pictures on Lazy.com. It’s a subtle way to personalize your profile and give your favorite Tezos-based NFTs a moment in the spotlight. They say a picture is worth a thousand words, so let your favorite Tezos NFT do the talking.

Our team continues to work diligently behind the scenes to ensure that Lazy.com remains a user-friendly platform for showcasing your NFT collections. We appreciate your feedback and suggestions, so please don’t hesitate to share your thoughts with us.

Thank you for being part of the Lazy.com community, and we hope you find these updates to be beneficial. After all, it’s the little improvements that make life more enjoyable, just like that one joke about the NFT collector who walked into a bar—but they couldn’t prove ownership, so they had to leave.

Help Us Make Lazy.com Unbelievably Awesome: Share Your Insights!

We’re on a mission to make our platform even more fabulous, and we need YOUR brilliant insights to help us get there. So, we’ve put together a quick questionnaire that’s all about your suggestions for Lazy.com. By taking a few moments to participate, not only will you be making your voice heard, but you’ll also be shaping the future of NFT showcasing for everyone. Picture a Lazy.com that’s tailored to your desires—now let’s make it happen together! Can’t wait to hear what you have to say!

Share Your Insights

Click here to give your feedback on Lazy.com and request new features

We are seeking a React Frontend Developer with strong UI/UX skills

Lazy.com is looking for a talented and experienced React Frontend Developer with strong UI/UX skills. The ideal candidate will be responsible for taking Figma designs and turning them into high-quality, responsive, and interactive web applications using React and other modern web development technologies. 

Learn more and apply here.

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This week’s featured collector is Qnguyen3

Qnguyen3 collects Polygon NFTs and they are especially focused on Meta Soccer, an NFT game. Definitely work a look. Browse Qnguyen3’s gallery at lazy.com/qnguyen3

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Tweet a link to your Lazy profile and we’ll take a look!

Exploring the NFT Marketplace Dip: Understanding the Factors and Staying Optimistic

Hey NFT enthusiasts! According to a recent report, the leading NFT marketplaces have seen a dip in daily users and sales, hitting lows similar to July 2021. This trend is visible across top platforms like Blur, OpenSea, and LooksRare. Let’s dive into the data and explore some possible reasons for this decline.

On April 19th, unique users across these marketplaces dropped to 7,805, the lowest since July 31, 2021. Sales also fell to 16,149 on April 19th – a level unseen since November 2021. At the same time, both OpenSea and Blur have experienced significant drops in users. For example, OpenSea’s daily trader count fell to 10,640 on April 18th, nearing a July 2021 low.

The downturn’s causes aren’t immediately clear, but experts like SeaLaunch.xyz believe a combination of factors, such as high gas prices, tax season liquidity issues, and the recent meme coin trading frenzy, might have impacted NFT marketplaces. Researcher Hildobby also suggested to CoinDesk that a lack of exciting developments in the NFT space could be contributing.

Despite the downturn, trading volume in Ether (ETH) across NFT marketplaces has remained stable over the last 30 days. Additionally, Uniswap has gained daily active users over the past two weeks, outperforming OpenSea and Blur.

It’s also worth noting there has been an unusual falling correlation between Bitcoin and Ether since mid-to-late March. This suggests bigger trends in the broader crypto economy understanding might be at play. This decrease signals an unpredictable period for the crypto economy, implying that BTC and ETH might not move in tandem, leading to increased market volatility and unique opportunities for investors.

In summary, while the decline in NFT marketplace daily users and sales is significant, it’s important to consider the various contributing factors. The situation could be temporary, given the market’s inherent volatility and potential for new developments. As participants in this dynamic landscape, it’s crucial to keep an eye on market trends, adapt to changing circumstances, and maintain a positive outlook for the future of NFT marketplaces.

Learn more at CoinDesk, Dune Analytics and Coinbase.

This week’s poll: When do you think NFT marketplaces will see a return of users?

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com

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This week’s featured collector is AlexanderNacho

AlexanderNacho’s collection caught our attention because it has a few NFT souvenirs they picked up at DevCon 5 and 6, one of the leading global conferences for the Ethereum community. Very cool to see! Browse AlexanderNacho’s gallery at lazy.com/alexandernacho

Want your collection to be featured in the next newsletter?
Tweet a link to your Lazy profile and we’ll take a look!

AI Meets Blockchain: Creating a Unique NFT Collection with ChatGPT, Midjourney and Third Web

Hey everyone! 😄 We just found this amazing video where someone created a full NFT collection using ChatGPT, Midjourney AI, and Third Web. We wanted to share a quick summary of what we learned so you can check it out too!

The creator starts by asking ChatGPT for ideas for an NFT collection and image prompts. ChatGPT comes up with a cool concept called “Synthetic Wonders,” which combines nature and artificial intelligence. It also provides prompts for five unique art pieces: AI Bloom, Cyber Safari, Neural Landscape, Digital Ocean, and Machine Metropolis.

Next, the creator uses Midjourney, an AI image-generating tool within Discord, to bring these prompts to life. They run three prompts simultaneously, generating four images for each, and pick the best ones to create their NFT collection.

After creating the images, the creator moves on to Third Web to set up the project. They create a smart contract, deploying it on the Goerli testnet for the demo. They fill in the project details, including the name, symbol, image, and description, as well as royalties and wallet addresses for primary sales. They then deploy the contract and confirm the transaction.

Within the contract dashboard, the creator sets up the NFTs and claim conditions. Finally, they create a claiming site using Third Web’s NFT drop template, which allows users to claim their NFTs directly from the site.

It’s fascinating to see AI and blockchain technology coming together in such a creative way. If you’re interested in creating your own NFT collection, we highly recommend checking out the video at youtu.be/sOjOst4-xSM:

This week’s poll: Have you tried using AI to generate NFTs?

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com

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This week’s featured collector is Kira1995

Kira1995 is a collector of WAX NFTs. In fact, they have an extensive collection that is definitely worth checking out. Browse Kira1995’s gallery at lazy.com/kira1995

Want your collection to be featured in the next newsletter?
Tweet a link to your Lazy profile and we’ll take a look!

Navigating the NFT Regulatory Rollercoaster: What Do Users Really Think?

Hey there, NFT enthusiasts! A recent report by CoinGecko and Blockchain Research Lab has shed light on NFT users’ views on regulation, and the results are fascinating! 🎢

It turns out NFT holders are pretty split on the regulation issue. Almost half (48.1%) are open to stricter regulation, with 29.4% agreeing and 18.7% feeling strongly about it. They’re probably thinking that a bit of oversight might help protect folks from the wild west of rug pulls and wash trading.

But wait, there’s more! A sizeable chunk (29.4%) of NFT holders are on the fence, not quite sure whether they’re pro or anti-regulation. Maybe they’re just waiting to see how the NFT space evolves. 🤔

And then, there’s the freedom-loving 22.4% who are firmly against stricter regulations. They’re likely fans of the decentralized, no-holds-barred nature of NFTs and prefer a free market environment.

Speaking of regulation, the IRS recently announced its plans to tax certain NFTs as collectibles, similar to art or gems. This approach would result in higher tax rates for wealthy NFT owners compared to other investments like stocks or real estate. The top rate for collectibles held for over a year is 28%, while other investments generally face a 20% top rate. The IRS said it intends to issue guidance on this matter soon. 💰

Despite the divide on regulation, most NFT holders seem aware of the risks involved. A whopping 54.5% admit to being afraid of fraud when investing in NFTs, while 69.4% say they do their homework before diving in. Looks like “do your own research” (DYOR) is alive and well in the NFT realm! 🕵️‍♂️

Interestingly, not all NFT holders fully understand the tech behind their digital treasures. About 7 in 10 get how it all works, but 11.4% are still in the dark. And hey, that’s okay! NFT adoption is growing, and people are embracing them for various reasons, from artistic value to community building.

The NFT world is a diverse place, with opinions as unique as the tokens themselves. One thing’s for sure: the conversation around NFT regulation (and taxation!) is just getting started!

This week’s poll: Do you understand how NFTs work?

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com

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This week’s featured collector is MeezIsNotDead

MeezIsNotDead is a biker, photographer, graphic designer and entrepreneur. Their collection of photography is one of the most popular galleries on Lazy. Check it out at lazy.com/meezisnotdead

Welcome to a special celebration of the Lazy Newsletter’s 100th issue!

Lazy launched in early April, 2021. Founded by Mark Cuban, the idea behind Lazy was laser focused on simplicity: be the easiest way to display NFTs regardless of the blockchain.

Back then Bored Apes weren’t yet a thing and the world of Non-Fungible Tokens was just starting to experience a remarkable boom, with a growing number of artists, creators, and collectors engaging with this novel digital asset class. High-profile sales, such as the $69 million auction of Beeple’s artwork “Everydays: The First 5000 Days” at Christie’s, played a crucial role in driving interest in NFTs.

In the nearly two years since our launch, Lazy.com has played a key role in the NFT ecosystem by offering a user-friendly platform for artists, collectors, and enthusiasts to showcase and buy/sell their digital art collections with ease. By providing a simple, streamlined interface, Lazy.com lowered the barrier to entry for new users and helped foster a welcoming environment for the broader NFT community.

It has been a wild ride.

Thank you for being a part of the Lazy community!

🎉 What do you love about Lazy.com? 🎉

“It is a simple and uncluttered way to showcase the ART!” — bearbrains

🎉 What is your happiest NFT memory? 🎉

“One morning I was sitting in the garden painting, listening to a Podcast (Steve-O’s Wild Ride) which had Mark Cuban on as a guest talking about NFTs. This instantly sparked ideas and I went straight from there to mint all of the art I had created over the previous 18 months. I minted the 150 piece collection and that summer I jumped into the web3 space researching and learning, engaging with artist and collectors. One of my happiest NFT memories I have is 6 months after hearing Mark Cuban on the podcast, he messaged me and says he likes my Art and shares my Lazy.com/Bstract profile with his 9 Million followers. This gave life to my career as an artists and since then I’ve been lucky to have my work be displayed in the UK/US/Europe and Asia and I have collaborated with some of the most incredible artists in Web3.” — bstract

🎉 What’s next for Lazy.com? 🎉

“We will be agile and curious as the future comes our way!” — The Lazy.com Team

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com

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This week’s featured collector is ChainSurfer

ChainSurfer is “surfing the Blockchain daily” and their collection proves it. We love the mix of NFTs that ChainSurfer has curated: from Lazy Lions to OnChainBandits. Browse ChainSurfer’s gallery at lazy.com/chainsurfer

🎉 Next week marks a huge milestone for Lazy: the 100th issue of our newsletter! 🎉

To celebrate, we want to spotlight our users and their NFT stories.

For a chance to be featured in the 100th issue of Lazy’s newsletter, please fill out this brief survey:

Thank you for being a part of the Lazy community!

Fill out the survey

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com

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This week’s featured collector is nchalaris

Nchalaris’ collection caught our attention because it has been receiving above average traffic lately. We took a look and liked what we saw. Browse nchalaris’ gallery at lazy.com/nchalaris

It was an another exciting week for crypto:

A loss of confidence in banks has led to a spike in crypto prices. Arbitrum, a layer 2, announced their airdrop. Ethereum staking withdraws will begin around April 12. A duplicate was discovered in Yuga Lab’s TwelveFold collection (oops!). And another sneaky NFT hack has been spotted in the wild.

In last week’s poll, we asked you about your NFT strategy: buying, selling or holding. What we learned is that roughly 60% of readers are holding their NFTs, while the remaining 40% are split evenly between buyers and sellers. Since the majority of people are holding, we want to revisit strategies for keeping your NFTs safe.

Step 1: Securely Store Your NFTs

If you have some NFTs that you don’t plan on selling or trading anytime soon, it might be a good idea to put them into secure storage. That way you don’t have to worry about accidentally losing them: peace of mind is priceless.
Click here to learn about the three ways to create your own impenetrable storage system.

Step 2: Delegate Your NFTs

Learning to “Delegate” is an important skills for NFT collectors in 2023. Delegation is one of the best ways to protect against getting scammed. Click here to learn how to delegate your NFTs securely.

Step 3: Guard Against The Three Most Common Hacks

Once you’ve curated your collection of NFTs, put them in storage and delegated, it is crucial to be familiar with of the most common hacks. Click here to learn the three ways most hackers try to steal your NFTs.

Step 4: Beware Signature Requests

In January, the creator of Moonbirds lost over $1,000,000 worth of NFTs. This is a dramatic reminder that even highly knowledgeable NFT creators and collectors can fall for sophisticated hacks. And the most sophisticated hack going around are signature requests. Click here for a deep dive into how signature requests can steal your NFTs and how to stay safe.

This week’s poll: What’s your strategy for keeping your NFTs safe?

Shout-out to Lazy user @AlishaAnglinArt for mentioning Lazy in her recent talk at Muhlenberg College.

“In the NFT space we as artists have the creative freedom to do what we want. Much of this freedom arrives from how NFTs open up new ways for artists to reach a broader public of collectors. This occurs globally, unlike in traditional art spaces, where creators and collectors alike are typically limited by the presence (or lack) of brick-and-mortar galleries and other local factors.” — @AlishaAnglinArt

Alisha got her start in NFTs in March 2021 after hearing Mark Cuban talk about lazy.com. Immediately after minting her first Ethereum NFT, Alisha created her account and her first piece “Sublime Fields” sold to a collector on Lazy.

We’re happy to hear about Alisha’s success with Lazy & always appreciate sharing awareness. Thanks!

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com

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This week’s featured collector is TagachiStudio

TagachiStudio’s is a “creator, collector and contributor.” Their collection of Ethereum NFTs includes a Friendship Bracelet along with different kinds of community membership certificates. Browse TagachiStudio’s gallery at lazy.com/tagachistudio

Two recent NFT projects have attracted a lot of attention among collectors. Here’s a look into what can be learned by their success.

The Quadratic Funding Collection

On the first day of March, a collection of the foundational texts on Quadratic Funding were bundled together and sold as an NFT. Funds raised from the NFT sale were “split between the Gitcoin Grants Matching Pool and the Plurality Institute, both of which fund and support public goods.” It took several days for the NFT sale to get noticed, but once collectors realized that the collection included an essay by Vitalik Buterin, one of the creators of Ethereum, it quickly sold out and became one of this week’s most traded NFTs.

While many commentators have credited the success of this project to Buterin’s association, there are two other aspects worth noting: 1) The NFT is a collection of texts which makes this a success story for NFT books 2) The NFT funded charity, demonstrating the positive potential for NFTs in fundraising.

TwelveFold

This week the creators of the Bored Ape Yacht Club released a generative NFT collection on the Bitcoin blockchain. Bitcoin NFTs are a relatively new invention and the quick adoption by Yuga Labs surprised collectors and inspired creators. TwelveFold was sold via auction and raised over $16m.

The success of TwelveFold suggests a continued hunger among NFT collectors for innovation. The success of TwelveFold wasn’t just because Yuga Labs created it—although that obviously played an important role. It was also because TwelveFold was released onto Bitcoin. This made it feel fresh and exciting. There was a joy to discovering the intricacies of a new blockchain’s NFT system.

This week’s poll: What is your NFT strategy? Are you buying, selling or holding?

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com

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This week’s featured collector is Ayeetoeknee

Ayeetoeknee is a collector of Ethereum NFTs with a focus on sneakers. They also collect artwork by Ron English, a prolific counter-culture street artist. Browse Ayeetoeknee’s full collection at lazy.com/ayeetoeknee

A court case with major implications for the future of NFTs is now underway. The case could decide whether NFTs are securities that require regulation.

In May 2021, the creator of Top Shot was sued by an individual who argued that the NFTs of NBA moments were securities. Now, almost two years later, the case has entered the courtroom and one of the first rulings does not bode well.

A briefing from Skadden, Arps, Slate, Meagher & Flom LLP, a major multinational law firm, explains the situation:

Before the court was the question of whether Moments were investment contracts and therefore securities, which the court analyzed under the Howey test, which examines whether (i) there is an investment of money (ii) in a common enterprise (iii) with a reasonable expectation of profit derived solely by the promotional or managerial efforts of others.

Although the court has not made a decision on whether Top Shots are securities, the court did reject the motion to dismiss the case. This indicates that the court believes it is plausible that the NFTs are securities and, if the case continues, is willing to make a determination.

As an analysis from Blockworks points out: “It is unclear whether the case will proceed to trial or if a settlement may be reached.”

If the case does proceed to trial then there is the potential that a precedent could be set with wide-ranging implications for the NFT ecosystem. After all, if NFTs are securities then it would drastically limit the ability of artists to release them, marketplaces to sell them and individuals to collect them.

All eyes will be on the Top Shot case as it continues to move toward trial.

Learn more at Skadden and Blockworks.

This week’s poll: Will the courts rule NFTs are securities?

We ❤️ Feedback

We would love to hear from you as we continue to build out new features for Lazy! Love the site? Have an idea on how we can improve it? Drop us a line at info@lazy.com